7 Signs It’s Time for A New Car Battery
Your car is pretty good at letting you know what it needs. From splutters, pings, and growls, it will let you know in no uncertain terms it needs attention.
And that is certainly true for batteries. That’s why we’ve outlined 7 sure signs that it’s time for a new car battery. Ignore at your peril!
Engine is Slow to Start
Battery components wear out over time. When that happens, the battery won’t take a charge quickly. You’ll have to wait a few seconds for the engine to kick in. This sign is usually a last gasp before you have to haul out the RIP sign.
Electrical Issues and Dim Lights
Do the lights inside your car seem dimmer? If your battery is dying, it will affect everything from your radio to the dashboard computer. That’s because the battery is the electrical juice that runs all things techno as well as practical, like lights in your car!
What’s That Smell?
If it smells like rotten eggs, it could easily be your battery. This happens when the battery gets damaged or there’s an internal short.
Battery Case is Misshapen
Battery exposure to both extreme heat and cold can cause the case to swell and crack. If you’re having difficulty and notice that the battery case is any other shape than rectangular, you’ve got problems.
Check Engine Light is On
A “check engine” light can be a warning for almost anything. That includes your battery. In this case, it’s a warning that your battery is running out of juice. Here at Joe Bowman Chevrolet, we can check your battery to see if it’s working at full capacity.
If you need a new battery, our service department can fix you up!
Old Battery
Car and truck batteries generally last a long time, typically 3-5 years. But climate, driving habits, and electronic demands all play a part in the lifespan of your battery. Once your battery reaches the upper end of its life, it’s a good idea to have it tested regularly.
You don’t want to suddenly end up on the side of the road stranded!
Corroded Connectors
If you notice a white, ashy substance on the metal parts of your battery, you’ve got a corrosion problem. This can lead to trouble starting your car as well as voltage issues.
Should you experience any of these issues, we encourage you not to let them slide. These symptoms are your car’s way of telling you to take action NOW!
At Joe Bowman Auto Plaza, our certified Chevy technicians are experienced in working with a wide range of vehicles. If you need help or you’re shopping for a new service center, stop by!
We’d be happy to give you a tour of our shop.
Whether you buy a new car every few years or once in a decade, there are always a few guidelines you want to follow consistently. One of the most important Harrisonburg new car buying points we can stress as a Harrisonburg car dealership is to be informed!
We love it when customers have done their homework and know exactly what they want. Here are our 7 tips to get you behind the wheel of your new vehicle quickly and easily.
Know What You Like and Dislike About Your Current Car or truck
You’ve had the vehicle for a long time so know what you want upgraded in your next car. Is it better fuel economy? More technology? Whatever it is you want, make a list!
Knowing what features you love and want to keep, as well as what you want to upgrade will guide you toward your next vehicle.
Know Your Vehicle’s Value
This is critical to the car-buying process! Your vehicle’s value affects how much cash you’ll need to for your next vehicle transaction. For example, if you still owe on your vehicle, you’ll need to subtract the outstanding balance from the vehicle’s current value. If you owe more on the car than it’s currently worth, you may want to wait before getting a new vehicle.
If you no longer have a car loan, the vehicle still has value! Use the Kelley Blue Book to determine the value, if you plan to sell it outright. Or, if you plan to trade it in, use their trade-in value to find out exactly the amount you can expect.
Yes, Opinions Count!
Before you buy a vehicle, find out what experts and consumers have to say about the vehicle you want to purchase. Check Buyers’ Guides, car review videos, and comparison tests. Save yourself the heartache of buying the wrong car! That’s worse than paying too much for the right car.
Know Your Monthly Payment
Know how much you can afford to put down and the monthly payment that works for your budget. These two pieces of information coupled with the current trade-in value of your vehicle are central to an overall good buying experience!
Financing and Pre-Qualifying for A Loan
Financing has come a long way! Today, Joe Bowman offers a wide range of financing options that compete with interest rates and terms from local banks. Additionally, when you finance directly through our Harrisonburg VA dealership, there is less wait time to get into your new vehicle.
However, if you choose to finance through your bank, that’s fine, too! Our dealership most definitely works with local banks and we have an excellent reputation! Just remember, that with a third party, paperwork takes a little longer.
But if you want the same great interest rate (or better!) and don’t want to wait for additional paperwork to process, consider dealer financing. And for those that qualify, GM offers 0% financing!
Make the Transaction in Person or Online
Whether you’re shopping for new or used cars, today’s consumer has more options than ever before on how to buy. Perhaps the biggest change in car buying is the ability to reserve, then buy a vehicle online.
With our Shop. Click. Drive program, you can do exactly that! Go to our website and shop from the convenience of your home.
Simply choose the vehicle you want, fill out the form online, then schedule a time to sign and take delivery. The beauty of this program is that you are not obligated to buy until you test drive, then sign for the vehicle.
Review Everything with the Finance Department
Once you’ve found your vehicle, made an agreement on your trade-in (if you have one), and reached financing terms, it’s important to review all the terms once again with the finance manager.
It’s important that all parties are literally on the same page! At Joe Bowman Chevrolet, we take great care to ensure that you know and agree to all the terms of the sale.
The bottom line for new car buying is this: the more knowledgeable and informed you are, the more confident you will be in finding the vehicle you want.
When you’re ready to buy your next vehicle, look up Joe Bowman Auto Plaza online: https://www.joebowmanautoplaza.com. And, stop in to see us. We’re here to help your Harrisonburg new car buying easy so that you find the right vehicle for you!
Chevy truck lovers are more likely to run over potholes, sail over speed bumps, and plow through deep puddles. Let’s face it. You treat your truck differently than your car, and that’s how it should be.
Trucks don’t live pampered lives! You expect that big boy to perform, and he does. From the big-sized tires to the transmission, your truck has to work harder to compensate for all that extra weight it hauls around. That’s why Chevy truck maintenance is so important.
Your Truck’s Brakes
Even though you sit higher off the ground, your brakes don’t. Action such as driving through deep water, especially when the brakes are already hot, will cool the calipers rapidly. Water destroys brake fluid causing corrosion in the brake system. And that’s expensive!
What can you do to protect your investment and extend the life of your truck? Every other year, remove the calipers and apply a film of high temperature grease to the moving areas.
Or, you can have Joe Bowman Auto Plaza do it when you bring your truck in for its annual brake inspection. And you know those parking brakes? The cables can become corroded as they absorb water.
Worse, if you never use the parking brake, you’ll never know the progression of damage. That is, until you do try to use it and it won’t release. The easy solution is to use your brake to keep the cables moving.
Automatic Transmission
Automatic transmissions are expensive to repair, but they are the cheapest repair to prevent! First, buy an aftermarket auxiliary automatic transmission fluid and install it.
Second, learn how to change your truck’s transmission fluid and change it regularly! These two tips will help prevent you from having to cough up $3,000 for a new transmission.
4 x 4 Transfer Cases and Front Axles? Do This
Front axles are easy to neglect because they work so well…until they don’t. By then, it’s too late to save the axle from certain destruction.
To avoid this kind of financial pain, buy three quarts of axle fluid and replace your truck’s fluid every three years. Easy peasy.
For your transfer case, find out what type of fluid it requires and replace it as often as the factory recommends. Just beware. Today, there are a lot of different types of fluids. Make sure you get the right one for your truck or you could cause damage.
Again, you can bring in your truck to our service department and we can easily take care of this for you.
Engine Oil
Engine oil is so unappreciated and yet, its work is vital! It seals and lubricates, cleans and cools—all with just six quarts. If that doesn’t have you cheering, remember that your truck’s engine oil has to withstand temperatures of 2500 degrees Fahrenheit.
Invest in good engine oil because a little extra protection never hurt anyone.
Tires and Alignment
Wheel alignments are important for all vehicles. For trucks? Big tires will wear out PDQ if the alignment is off. Nobody wants to buy new tires before they have to!
So, every two years, get a truck alignment. If your truck is heavily used, consider an alignment more often. And definitely more often if you have big tires and wheels.
Wheel Bearings
Oversized tires and wheels place more strain on the front wheel bearings. Read up on how you can check the front wheel bearings. Then make it a yearly habit to do so during your annual brake check.
Okay, truck lovers, let us know if these Chevy truck maintenance tips help you to extend the life of your truck. Got questions or need truck maintenance? We’d be delighted to accommodate you! Learn more about us on our website.
Auto Loans After Bankruptcy: Is It Possible?
Bankruptcy is devastating, and it takes time to recover. But what about buying another car? Are auto loans possible after bankruptcy?
In many cases, they are. It doesn’t necessarily mean you have to wait years to be eligible for auto financing. However, there is a right way to go about it.
Rebuilding Your Credit
Debt.org, an organization for help with debt, recommends applying for a secured credit card first.
This type of card requires you to put down a deposit that’s needed to open the account. Then pay off the amount each month for the next 12 months.
Once you’ve done that, the organization recommends moving onto an unsecured credit card.
This step helps to build a positive credit history, and that’s key in determining your eligibility for an auto loan! It will also determine the interest rate for your loan.
The more history there is to show that you are a lower credit risk, the better!
Auto Loans and Your Credit Report
Before any major purchase, the Consumer Financial Protection Bureau urges all consumers to check their credit histories.
Every American citizen is allowed one free credit report each year. It’s a good idea to check it because about 25% of the information in the report could have errors.
If you’re recovering from bankruptcy, this step is crucial. You want to check to make sure there are NO errors. If so, take steps to correct them.
Auto Loan Financing After Bankruptcy
Once you’ve taken positive steps to rebuild your credit, you can begin the task of finding a good used car. Here at Joe Bowman Auto Plaza, we have a program called Second Chance Credit.
If you’re actively working to repair your credit, we want to help. We know that there are agencies that charge outrageous interest rates for consumers recovering from bankruptcy.
When you’re saddled with a very high interest rate, it’s very difficult to build any kind of equity! With our network of local lenders and large finance companies, we can shop around to get you the best interest rate possible.
Will you pay a higher rate? Yes, but you will not pay an exorbitant interest rate.
We’ll break down the terms of your loan and show you exactly what you are buying. And with our simple interest loans, you have the option of paying ahead on your loan—without the risk of penalty.
That’s another way to demonstrate your commitment to building a strong, positive credit score.
Get pre-qualified on our site and talk to us about what you want to buy. Auto loans after bankruptcy are possible.
Take control of your credit and get yourself in the driver’s seat. We can help! Go to https://www.joebowmanautoplaza.com to learn more about us.
Best Auto Loan Rates: Where to Go for the Best Rates
Whether you’re buying a new or used vehicle, looking for the best auto loan rates is a top priority. With a typical term length averaging 5+ years, it’s no wonder a low interest rate is important to car buyers! But how do you get a good interest rate? And where’s the best place to get it?
We break down the surprising options.
Bank Financing
When it comes to auto financing, your first thought might be to go to your bank. And that’s still a good option. Banks have a long, successful history of providing auto loans to consumers.
Typically, you get a preapproval letter for a loan before going to a dealer. You can then take that letter with you to the dealer showing the amount you are authorized to buy.
This saves time when finalizing the contract. Before approving your application, the dealer will then run what is called a “hard credit check” to review your full credit report.
Your auto loan interest rate will be determined by your credit report because it’s at the heart of every car loan. If your credit report is less than stellar, you will pay a higher interest rate. If your credit report is good, then you’ll pay a lesser interest rate.
Options on Auto Loan Rates
There’s another factor in working with a bank for a car loan. If you’re buying a used car that’s older, they may not be willing to finance it. Banks are not in the auto business, so they have a narrower view of what is acceptable to loan.
A second consideration is the length of time it takes to get the car loan. As a third party, the dealer must reconcile both the bank’s paperwork as well as their own. That means it will take a little longer to get the loan.
Dealer Financing
For many years, consumers steered away from dealer financing because Harrisonburg car dealers were thought to have higher interest rates.
Nope.
Here at Joe Bowman Auto Plaza, there are many advantages to pursuing a car loan with us. First of all, dealer financing works the same way as bank financing. The difference is, the dealership works with you directly to find the right loan for you.
For the loan application, we will run a hard credit check, just like your bank, to determine your credit score. This is also an indicator of the loan rates you’re eligible for.
As an example, according to MSN Money, the breakdown for possible new car loan interest rates typically look like this:
• Excellent credit score 850 – 740: 3.2% interest rate (on average)
• Average credit score 739 – 680: 4.5% interest rate (on average)
• Sub-Prime credit score 680 and below: 6.5 – 12.9% interest rate (on average)
Then, we shop our extensive inventory of financial institutions to find the best fit for you. As with all financial lending institutions, the better your credit score, the better your interest rate will be.
Another advantage of financing through our Harrisonburg dealership is that the process is generally quicker. Without a third-party involvement, there is no additional paperwork to review and approve.
When a local lending institution handles the loan, both the dealership and the bank have to process the paperwork. There is a delay in loan approval simply because there are more hoops to jump through.
Choosing to finance your vehicle through our dealership means:
• You get the same opportunity for a competitive interest rate that you would with a bank
• There is less time involved in processing the loan
• You get in your new vehicle more quickly
Here at Joe Bowman Chevy, we also finance high mileage and/or older vehicles all the time! You get the same great loan application process as with new cars or used vehicles with less mileage.
When You’re Ready to Buy
When it’s time to let go of your old vehicle, stop by Joe Bowman Auto Plaza. We have an excellent inventory of cars, trucks, and SUV’s.
Once you find the vehicle that’s right for you, talk to us about dealer financing. We think you may feel the same way as Walter Cox, and you’ll love our auto loan rates, too!
I bought a 2013 GMC Sierra from Derrick. He made it simple and easy with this purchase. He’s very knowledgeable and an all around GREAT guy. This was the fastest I’ve ever bought a vehicle. 3 hours total. Highly, highly recommended.
You’ve got a good job, you’re paying your bills on time, and you’ve even got a nice down payment that’s just waiting for a new vehicle you want to buy. So, what’s missing?
A credit history.
In the world of finance, a credit history is everything. It’s how car dealers and banks determine your credit risk and Harrisonburg auto loan rates. That’s why it can be difficult to buy that first car. You’re not alone. Up to 100 million people in America have no credit or very little.
The good news is the situation is temporary. You just have to work your way through it the first time and you’re done. But what’s the best way to do that?
We’ve got 5 strategies to consider to help you get you into that new car.
First, Check Your Credit History
Even though you may think you haven’t built up a good credit history, it’s best to check it. In fact, the Consumer Financial Protection Bureau recommends a credit check before making ANY major purchase.
And, by law, every American is entitled to one free credit report each year. Take advantage of it! Find out exactly what’s on your credit history. And, because 25% of credit reports contain errors, this is a good opportunity to find any possible errors and correct them.
Once you know exactly where you stand, consider the following strategies to get auto financing.
Co-signer
This approach uses the co-signer’s good credit history as leverage for you. It’s a good deal for you, but risky for the co-signer! Here’s why:
• Late or missed payments go on their credit history, too, dragging down their score.
• If you default, the co-signer is responsible for your loan.
• The loan balance will be counted as part of the co-signer’s debts. So, if they apply for a loan, it will show up as their debt.
Not many people will jump at the chance to take on that responsibility. You must be an extremely trustworthy person to have a co-signer on an auto loan.
Look into Alternative Credit Data
Another possibility is a program called Experian Boost sponsored through the credit history company, Experian.
When you sign up for the program, Experian gives a company access to your online checking account records which sifts through your account payment history. It will give you credit for timely, recurring payments. Late payments are ignored.
You can discontinue the service whenever you like. According to creditcard.com, credit scores average a 13-point increase with the service. To learn more about the program click here.
Dealer Financing
Some dealerships have programs specifically designed for the recent college graduate or student who have yet to establish credit. Check local dealerships and ask.
For these programs, other factors are used like, income, GPA, and down payment amount to determine a lending decision.
Marketplace Loans
With this type of loan, a broker will take your personal finance data, as well as the size and term of the loan that you want, then shop for investors.
What’s important to know is not all brokers work with borrowers that haven’t established credit yet. You also want to carefully research brokers. Because you’re sharing sensitive personal information, go with brand name brokers who have a good track record of success.
Ask them how they share your information. How much will they lend to a no-credit borrower? What kind of rate range do they have? Find out what happens after the loan process is over.
The bottom line is this. It isn’t easy to buy a new or used car when your credit history hasn’t been established, but it is possible. Use every possible resource to build your case.
Financing options may be limited but you can find a lender who will work with you.
Looking to buy a new or used vehicle? Stop by Joe Bowman Auto Plaza to see our wide inventory of cars, trucks, and SUV’s. Talk to our finance department to learn more about your best financing options and Harrisonburg auto loan rates.
Credit scores paint a financial picture of the kind of person asking for a car loan. It helps lenders to determine the likelihood that the loan will be re-paid.
Yet, most consumers don’t understand that their credit score is directly tied to new car interest rates. That is, it impacts the kind of rate you can get when purchasing a new vehicle.
As with any financial transaction, there is documentation that is required. However, it’s your credit report that’s at the center of everything.
What Determines Your Credit Score?
The biggest determination of a great credit score is paying your bills on time. Thirty-five percent of your total score is determined by prompt bill paying!
Secondly, maintain a high level of available credit, BUT, only use the smallest percentage of the credit line as possible. For example, using no more than 50%of your credit line will help your score.
What’s the Best Credit Range for New Car Interest Rates?
The breakdown for possible interest rates on car loans typically looks like this according to MSN Money:
• Excellent credit score 850 – 740: 3.2% interest rate (on average)
• Average credit score 739 – 680: 4.5% interest rate (on average)
• Sub-Prime credit score 680 and below: 6.5 – 12.9% interest rate (on average)
The sweet spot for the most optimal car loan interest rate is in the 740 range. If your credit score isn’t in this enviable range, a score in the high 600’s will work. However, you can expect a higher interest rate.
How Can You Increase Your Credit Score?
The first thing to do before jumping into the new car market is to check your credit score online. Knowing what to expect before heading to a lender’s office will save you time.
Every person in the US is entitled to one free credit report per year from each of the three major credit agencies, e.g., Experian, TransUnion, and Equifax. There’s one caveat.
It’s estimated that 25% of credit reports have incorrect or erroneous information. That’s why it’s best to check your report annually for accuracy.
You are also entitled to a free credit report if you have been turned down for a job or for credit as a result of a credit report.
Payment-Making History
If you make payments on time, you’re more likely to have a good credit score. Missing payments or making late payments will negatively affect your score.
If you’re in the latter group, start making payments on time. Paying additional on the principle is also an excellent way to inch up your credit score.
What’s Your Current Debt?
If you have a large debt load, that will lower your score. Waiting until you pay down your debt before buying a new vehicle is a cost-effective option for obtaining a lower interest rate.
3 More Factors to Consider
These factors are less influential but still play a role:
• The period of time over which you have accumulated debt
• How recently you made a credit application
• If you have revolving credit (credit cards) or installment credit. (Think car loans and mortgages.) Installment credit will be more valuable than credit card debt.
Knowledge is Power but So is Practicality
A good credit score is the key to obtaining new car interest rates. Knowing what your score is puts you in a good negotiating position, if your score is optimal.
If not, you know you have work to do before buying that new car or truck. While it may be tempting to buy a new vehicle at a higher interest rate, let practicality rule here.
If waiting means you get a higher credit score and a lower new car interest rate, there’s something to be said for delayed gratification.
At Joe Bowman Auto Plaza, our car loan rates are as competitive as any of the local banks. And, when you opt for dealer financing, we can typically get you into your new car faster because there’s no third-party paperwork to manage.
So, you’re ready to buy a new car and you’re shopping the dealer car lots here in Harrisonburg. And you’ve got a trade-in.
We find customers have a lot of questions about trading in their old car when new car buying. In this post, we answer the most commonly asked questions.
How Does A Trade-In Work When Buying A New Car?
When you have a car to trade at our Harrisonburg dealership, the value of your used car is subtracted from the purchase price of the new car.
If your current vehicle still has a loan balance, the dealership takes over the loan and then pays it off. In order to do that, you’ll need to bring this information with you:
• Your loan information including the account number and payoff amount
• Vehicle registration
• Your driver’s license
• Proof of insurance
• Vehicle keys and any remotes
• A printout of the trade-in value
There are two kinds of trade-ins if you still have a loan balance:
Positive Equity-If your car is worth more than the amount you owe on it, it’s called positive equity. That means it’s like having money you can apply toward your new vehicle.
Negative Equity-If you owe more than the car is worth, that’s called negative equity or being “upside down.” That means you’ll have to pay the difference between the trade-in value and the loan balance.
You can do that either with another loan, with cash, or you can roll what you owe into your new car loan. We don’t recommend the latter. In fact, we recommend you postpone your new car purchase until you have positive equity.
How Long Should I Keep A New Car Before Trading It In?
Maybe you don’t like the car you have and you’re ready to trade it in for something else. Before you take steps to buy a new car, you need to know the factors that affect a trade-in.
The biggest one, of course, is depreciation. Ideally, wait at least three years before you consider replacing your vehicle. That’s when depreciation slows down.
If your vehicle is a used car and has already experienced the big depreciation drop, you can usually trade it after a year or more.
Other factors to consider for a trade-in are:
Actual cash value-This is the amount that your vehicle is actually worth. Visit sites like Kelley Blue Book or NADA guides. Or, get the dealer to appraise it.
Mileage and condition-If the vehicle is in rough shape and it has high mileage, it will lower the car’s value.
Equity-As we mentioned above, positive equity means it’s worth more than the loan balance. If you’re upside down, the vehicle will have negative equity.
What are the Advantages of a Dealer Trade-In?
Selling a car yourself is difficult. Not only do you have to invest in cleaning it up, you have to make repairs, and advertise it.
Choosing to trade-in your current car relieves you of that responsibility.
Perhaps the worst part of selling your vehicle yourself is the waiting game-when is it going to sell?
When you’re ready to move on and get a new car, waiting for your old vehicle to sell can seem like an eternity!
Choosing to trade it in at Joe Bowman Auto Plaza means we do the work, not you:
• We take steps to improve its value
• Possibly paint the vehicle
• Tune it up
• Perform necessary repairs-We use a 75-step process to ensure the vehicle is sound before placing it for sale
• Advertise it
• Store the vehicle until it’s sold
• Include a limited warranty once it passes our rigorous testing
Trading in your old car allows you to move ahead and enjoy your new purchase. You won’t have to keep looking at your old vehicle wondering when it’s going to sell.
When you’re ready to buy, let us do an appraisal on your current vehicle. Leave the hassle of selling it on your own to us. It’s what we do every day!
When you’re searching the car lots of auto dealers in Harrisonburg, VA, for a good, used car, the task can seem overwhelming.
So many cars to choose from. Where do you start? And that’s actually the right question to ask! Too often, car buyers make the big mistake of getting caught up in the buying process.
They don’t buy the car that’s right for their needs. Instead, they become smitten with a vehicle that in no way meets their lifestyle requirements. Worse, the vehicle may cost more money.
We find that most buyers really don’t know what vehicles are available and they aren’t sure what they need.
The point here is to keep a level head. We’ll offer assistance by asking you questions like these:
• Will this be a family car to haul kids to a lot of events?
• Is fuel economy a priority?
• Does the vehicle need to maintain good re-sale value?
• Do you want a vehicle that’s easy to park?
These types of questions will help remove the stardust from your eyes and get you thinking about what type of used car you really need.
Now make a list of all the things you admire in a vehicle. Is it body style? Colors? Luxury options? Whatever they are, list all the characteristics and cross reference the two.
This should give you an accurate description of the kind of vehicle that will be the best fit for you.
Use Internet Tools
Again, we find that many buyers don’t really utilize the internet to their full advantage when car shopping.
The Joe Bowman website allows you to pre-qualify and inquire about financing. Use the Kelley Blue Book Used Car Retail Values to find out how much a Harrisonburg dealer may ask for the vehicle.
You’ll find that when searching for cars for sale in Harrisonburg, VA, the Joe Bowman dealership generally prices previously owned vehicles under the KBB fair value price.
This gives consumers much more confidence when they shop with us. And that’s exactly what we want!
Finding Your Current Car’s Value
We encourage you not to make the very common mistake of overestimating the condition and value of your current vehicle!
Dealerships have a very accurate read on current market conditions and valuations. Expecting to get more than your vehicle is worth will only lead to a reality check when the dealer tells you what it’s really worth.
So how can you know for certain what to expect as a realistic value of your vehicle? Again, make use of the Kelley Blue Book site. It will give you an accurate read on your car’s worth.
Limited Warranties
You can search for your newer vehicle online safely and easily. In fact, that’s how most dealerships work today for both selling new and used vehicles.
With our Shop-Click-Drive program, it makes shopping easier than ever for both new cars and used vehicles.
Once you find the pre-owned vehicle of your choice, we back up the sale of that vehicle with either a 30-day or 90-day warranty, depending on the year and mileage of the vehicle.
Additionally, whether you buy a new or used car from our Harrisonburg dealership, you’ll always get free lifetime Virginia State inspections, for as long as you own the vehicle.
And, Joe Bowman customers receive priority scheduling in our service department.
Learn more about us on our website, https://www.joebowmanautoplaza.com. Or better yet, stop in and see us!
The last question you want to ask as you drive away in your new vehicle is, “Did I really get the best deal on my new car?” To save yourself that uncertainty, it’s important to educate yourself about financing and the actual car buying process.
To help you dig a little deeper into your research, we’re listing 5 Harrisonburg new car buying tips to help you get you the most value for your purchase.
Research Price Range
You might have noticed that there are two pricing terms at any dealership, invoice price and manufacturer’s suggested retail price, also called MSRP.
As a reputable Harrisonburg auto dealer, Joe Bowman new cars follow those same pricing guidelines, too. Here’s what that means.
Invoice pricing is how much the dealer paid the manufacturer for the vehicle. It can include destination and delivery fees. The dealership’s profit is the difference between the sales price and invoice price.
However, because manufacturers offer discounts, rebates, and other selling incentives, the actual amount the dealer makes may be more than the difference between the invoice and sales price.
The sticker price, or MSRP, is what the manufacturer thinks the car should be sold for. Dealerships are required to display that price, but it can also choose to sell the vehicle for less or more.
Both Kelley Blue Book and Edmunds lists both the MSRP and invoice price. And they also list the fair market value of both new and used cars.
The fair market value is simply an estimate of what a consumer should expect to pay based on the vehicle’s features, make, model, and so on, as compared to sales of similar vehicles.
Car Loan Pre-approval
If you’re planning on financing your vehicle, it’s wise to get pre-approved for your auto loan. Pre-approval is a conditional approval that lets you know how much you can afford to buy, the terms, and interest rate.
But first, you must know the estimated cost of the vehicle you want to buy.
Once you’ve determined the price range, your lender can include:
• The actual amount of money you can borrow
• Loan term
• Interest rate
While getting pre-approval doesn’t guaranteed loan approval, it does let you know how likely you’re to be approved and how much you can borrow.
Please note that an application for pre-approval can result in a hard inquiry on your credit report.
Negotiating Your New Car Price
Negotiating is sometimes uncomfortable for people, but it is a skill worth learning! What makes negotiating more comfortable is preparation.
Again, do your research on the price range, so you know how much negotiating to expect. If you’re financing through the dealership, or you want to trade in your old car, do that separately.
Focus first on the price of the new car. If you’re on a tight budget, you may need to look at monthly payments first and extending the loan terms. That means a longer repayment period and paying more money over the long haul.
Know in advance the terms and monthly payment you’re comfortable with. Then go with it! Don’t buy more car than your budget can handle.
Be aware that just like buying a new home, the final cost of the vehicle is not the sticker price. In real estate, there are closing costs.
In car buying, there’s the “out-the-door” price. That means you’ll need to factor in these additional costs:
• Destination fees
• Title and registration fees
• Sales tax
• Destination fees
Do You Really Need All Those Extras?
Only you can decide if you need an extended warranty, prepaid maintenance plan or other upgrades. Add-on’s such as these are nice, but make sure you really need them before adding them to your monthly payment.
Timing is Everything
Like every retail business, there are up times and down times to buy. To get the best deal on your new vehicle, watch for holiday sales and end of a model year sale.
Dealerships will sometimes run specials when they need to meet an annual quota or move inventory. This can work in your favor!
Don’t drive away from a dealership wondering if you got the best possible deal. Do your homework and follow these Harrisonburg new car buying tips. Every time you step into your vehicle, you want to smile instead of growl!
At Joe Bowman Chevy, new car sales are a part of our everyday life. Our experienced staff can answer all of your questions and help you get into the vehicle of your choice with ease.
And our service department is second to none.
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